Europe Solar Utility sells solar PV assets to long-term investor

Europe Solar Utility (ESU) has announced the sale to a long-term investor of 3.7MWp of operating solar PV assets built on land owned by Thames Water.

The installations, at three Thames Water sites near London, cover an area equivalent to more than 10 football pitches and will provide an annual output of up to 3,500 megawatt hours (mWh) of electricity — enough to run around 750 average-size homes — shaving £100,000 a year off Thames Water’s electricity bill.

Construction of the projects was financed and managed by ESU, which successfully completed the first phase of the project before the 1 August deadline, qualifying it for the higher feed-in-tariff rate of 30.7p per kilowatt hour (kW/h). Since 1 August the feed-in tariff for installations of this scale has been decreased.